Government acts to help housing market

Rent-to-buy scheme to help first-time buyers and new local housing companies among a raft of measures announced today.

Kate Ahira and Chloë Stothart, Building Magazine - 16 July 2008

Housing minister Caroline Flint will today announce a series of measures to support the ailing housing market in an attempt to keep government housebuilding targets on track.

Detailed in “Facing the Housing Challenge - Action Today, Innovation for Tomorrow”, the measures include a scheme to help first-time buyers into homeownership and the creation of the first four PPP local housing companies.

Flint said: “The package being announced today will both help people facing difficulties right now, and lay the foundations to help meet the long-term housing needs of the country.

“We are determined to continue to do everything possible to promote long-term stability and fairness in the housing market… the long-term need to provide more homes has not gone away. We have a growing and ageing population and will only see worsening affordability unless we increase housing supply.” full article